This is not a bug. Apple, about 6-8 months ago made a change that requires the version of Xcode you are using match the target SDK that you are building against.
We have to keep Corona SDK up to date, so as Apple releases new SDK’s we have to update Corona to use them. Here’s the deal.
If you have Xcode 7.2 you must build with a version of Corona SDK where we are using iOS 9.2 SDK. The current build supports iOS 9.2 and iOS 9.3 beta. I only have Xcode 7.2 installed, so I can’t build with the iOS 9.3 beta SDK.
If you’re building with 2731, the previous public build, it supported iOS 9.0. Therefore you have to have Xcode 7.0 if you want to build. So you’re choice is either a) you can download a 4GB version of Xcode 7.0 and manage multiple versions of Xcode on your computer or b) you can update to the latest public build which is much smaller and faster to update.
You should watch daily builds going forward and wait until we announce iOS 9.3 support in the daily build release notes before you update to Xcode 7.3. We of course won’t update until 9.3 goes out of beta.
Rob